you need so much money for a happy old age

Even if you’re only twenty, maybe thirty or forty, we all think about it from time to time: how much money would I need to be able to retire? Pension Specialist Audley Villages do a study how much money you would need for “happy retirement”.

Of course, it depends on where in the world you live. In one country, it takes much less money to live than elsewhere. It also depends on life expectancy. Research has focused primarily on achieving happiness. A retiree’s “happiness index” was examined, along with place of residence, average life expectancy, annual salary and cost of living per month.

How much are you saving for your retirement?

The study takes Amsterdam as a benchmark for the Netherlands. With an average life expectancy of 82.1 years and monthly costs of around $1,200, you should save $244,000. The research is based on an average gross annual salary of 34,500 euros per year in the Netherlands. You must of course have this amount at your retirement age. It is currently 66 years and 4 months. If you have this amount at age 40, you won’t be able to retire for a long time.

This makes the Netherlands average in terms of how much you need to save for your pension. In the top twenty of the happiest cities in the world, you will have to save the most if you live in Switzerland: 356,000 euros. A chance for the Swiss is that they also earn almost twice as much as the Dutch.

Alright, Alright, Wellington

In the Czech Republic, you must have the least savings at retirement age: 129,830 euros. However, they earn much less on an annual basis. All in all, you’ll find the best in Wellington, New Zealand. The best is to save 173,000 euros there, and that on an annual salary of 33,000 euros.

Amsterdam may be high on the list of the happiest cities in the world, but it’s only 23rd when it comes to the best city to retire in. You’re better off at retirement age in Melbourne. Australians will need to save the equivalent of €210,000 if they want to make the most of their retirement. Relatively cheap considering the annual salary and life expectancy, Melbourne is also a happy city.

With a total score of 6.6, it is therefore better to spend your old age under the Australian sun. Rio de Janeiro is also doing well. It’s cheap, but much less for your mood. Helsinki is in 3rd place with a score of 6.5. Amsterdam does justice to the Dutch mentality of the six. You are wrong in Asia. Hong Kong, Tokyo, Singapore, Seoul and Delhi are the worst retirement cities in the world.

Enjoy your retirement

When you can finally retire with your two and a half tons of savings, make the most of it. Plan ahead: what do you want to do with your time and money? Nothing urgent. And above all, think about your mental happiness. Make sure you have social contacts, stick to your goals, and stay healthy and active. Above all, enjoy your free time and do things you love. Otherwise your money, which is intended for a happy retirement, is of no use to you.

9 women tell what they have in their savings account